Pension Bridging

We can assist with bridging finance and bridging loans whilst you await the expected lump sum payout from the following:

Pension Fund If you are awaiting pension or provident fund payout following resignation, retrenchment, retirement or dismissal, or as part of a divorce settlement you can get an advance on the lump sum due to you if you need cash fast. Policies / Investments If you have a pension policy, provident fund, retirement annuity or investment, endowment policies with a company such as Sanlam, Old Mutual etc., which is maturing within 4 months, a portion of the funds can be bridged. Death claims If you are awaiting payout from your late spouse’s pension / provident fund and you are in need of urgent cash, a portion of the lump sum due to you can be advanced. Provident Fund If you are due funds from a Provident fund after resigning, retrenchment, retirement or dismissal, we can assist with a Provident bridging loan. Retirement Annuities It is possible to secure a Retirement annuity bridging loan. Ask us how.

Cost Schedule

Minimum Term – 65 days
Maximum Term – 90 days
Minimum APR – 28 %
Maximum APR – 28 %

Example :

Loan advance R10,000
APR 28%
Initiation fee R1197
90 day service fee R205.20
90 day interest R783.79
Total repayment at 90 days R12,185.99

Subject to lenders Terms and Conditions at time of quote.

Bridging Amount available

10% of the total value due to you, up to a maximum of R32 000, can be advanced without security.

Costs

The bridging fees are approximately 0.16% per day plus admin fees. Please confirm the fees with the lender when they process your application as they are subject to change without notice.

APPLY NOW BELOW!

DOCUMENTS REQUIRED

Pension / Provident fund

Completed application forms (the documents will be sent to you on receipt of your enquiry)
Your ID
2 month current bank statement
Last pay-slip
Pension / Provident Fund benefit statement
Letter from employer confirming and accepting severance package / medical disability (where applicable)
Letter of appointment with new company (where applicable)
Divorce settlement (where applicable – i.e. if you are wanting to bridge a pension payout which is part of a divorce settlement)

NOTE: Please ensure that all documents are legible. If they are unclear or too faint, this causes delays in processing. In many instances bridging can be arranged in 5 working days but if the fund administrators do not process the application in good time, there can be delays in setting up the bridging facility. The lenders are very anxious to get the facility in position for you and will do what is necessary to make this happen. You can assist by urging the fund administrators to expedite the application, in order that the benefit can be paid as soon as possible after the date of bridging withdrawal, so as to reduce the total discounting fee payable to the bridging company.

Policies / Investments / Retirement Annuities

Completed application forms (the documents will be sent to you on receipt of your enquiry)
Your ID
2 month current bank statement
Proof of policy/investment from the Insurance company
Proof of maturity date of policy/investment

Death claims

Completed application forms (the documents will be sent to you on receipt of your enquiry)
Your ID
2 month current bank statement
Beneficiary statement stating amount and distribution of monies
Death certificate
Divorce settlement where applicable
Benefit statement from the fund of the deceased
Latest pay slip of deceased if possible